Toy­ota, Tesla are team­ing up to of­fer elec­tric RAV4 by 2012

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE - Com­piled from wire re­ports

A plan to sell an elec­tric ver­sion of Toy­ota Mo­tor Corp.’s RAV4 sport util­ity ve­hi­cle by 2012 demon­strates that the al­liance be­tween Tesla Mo­tors Inc. and the Ja­panese au­tomaker isn’t just for show, an­a­lysts said.

Tesla and Toy­ota said they were de­vel­op­ing the ve­hi­cle and that Tesla was work­ing on a fleet of pro­to­types to be­gin test­ing. The ven­ture is the first project an­nounced by the com­pa­nies since Toy­ota pur­chased 3.2 per­cent of Tesla for $50 mil­lion this year.

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